Creative Studio with
139 Old Lamy Trail, Lamy, NM 87540
For Sale
New
$475,000
CommercialSale, Lamy, NM
Property Size1,098 SF
Lot Size1.03 Acres
Price / SF$432.60
Days on Market6
Property Features for 139 Old Lamy Trail
General Information
Property type
Property subtype
Zoning description
Parking
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Building Details
Year built
Flooring type
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Buildings
Listing Agency:
Corcoran Plaza Properties
(505) 982-4466
Listed By:
Catherine Ish · License NM #54626
(505) 660-5061
Added: Nov 4
Last Checked: Nov 9 at 11:06AM
MLS# 202604083
Copyright © 2026 Santa Fe Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 2001, this 1,098-square-foot creative property occupies 1.03 acres in Lamy. The frame building has concrete flooring, vaulted ceilings, a wood-burning stove, 1.5 bathrooms, and two open-framed porches. A loft provides additional flexible space. The property is served by a septic tank and has a metal roof.
Traditional Community zoning allows residential and light commercial use. Art studios, general stores, museums, and libraries are permitted by right; other light commercial uses may require conditional approval. The property is 18 miles from downtown Santa Fe. Views extend toward the Mission Chapel of Our Lady of Light, with the depot and Legal Tender Saloon also part of the surrounding village setting. Amtrak passes through Lamy twice daily, and Sky Railway brings visitors to the village.
Traditional Community zoning allows residential and light commercial use. Art studios, general stores, museums, and libraries are permitted by right; other light commercial uses may require conditional approval. The property is 18 miles from downtown Santa Fe. Views extend toward the Mission Chapel of Our Lady of Light, with the depot and Legal Tender Saloon also part of the surrounding village setting. Amtrak passes through Lamy twice daily, and Sky Railway brings visitors to the village.
Key Highlights
- 1.03‑acre property with a 1,098‑square‑foot building
- Traditional Community zoning permits residential and light commercial uses
- Art studios, general stores, museums, and libraries permitted by right
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,119
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,380
$302.4K
Cap Rate 7%
$215,986
$216.0K
Cap Rate 9%
$167,989
$168.0K
Market Conditions
NOI Build-Up for 1,098 SF
Gross rent
$23.7K $21.60/SF
− Vacancy
−$3.6K −$3.24/SF
EGI
$20.2K $18.36/SF
− OpEx
−$5.0K −$4.59/SF
NOI
$15.1K $13.77/SF
Area
Santa Fe County, NM
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,380
Cap Rate 7%
$215,986
Cap Rate 9%
$167,989
Alternative Uses
Best Use
Office B
$216.0K
$189.0K – $252.0K
NOI $15,119 @ 7.0% cap · market cap 3.18%
Second Best
Mixed Use
$146.0K
$127.7K – $170.3K
NOI $10,217 @ 7.0% cap · market cap 2.15%
Theoretical Best
Office A
$298.2K
$260.9K – $347.9K
NOI $20,871 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
20
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Business Placement
Demographics for 87540, NM
1,052
Population
621
Households
1.7
Avg Household Size
62
Median Age
57%
College-Educated
98%
High-School Grad
163.6 sq mi
ZIP Area
6
Density / Sq Mi
$52,750
Median Household Income
$980
Median Rent
$685,900
Median Home Value
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Market
Average Price Trend$/SF for Creative space in Santa Fe County, NM
Properties on Market for Creative space in Santa Fe County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Creative space - Traditional Community zoning allows residential and light commercial use, including art studios, general stores, museums, and libraries.
Where is this creative space located?
The property is located at 139 Old Lamy Trail Lamy, NM.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1.03‑acre property with a 1,098‑square‑foot building; Traditional Community zoning permits residential and light commercial uses; Art studios, general stores, museums, and libraries permitted by right
